Toy Retailer Hamleys to go for sale?

Just a few days ago, Hamley's, the worlds most famous toy store, reported multi-million pound losses. Now, C.Banner International, the Chinese owner, is believed to be undertaking a strategic review into the company.

Though a sale is not confirmed yet, the option is being discussed, among many others. The future ownership of the company is doubtful, not long before the essential Christmas trading period begins.

Corporate finance firm, Vermillion Partners, have been appointed to handle discussions with potential bidders.

This review marks C.Banners potential retreat from the British retail sector - just a few months ago, they abandoned plans to buy a stake in British department store chain, House of Fraser.

Company CEO, Cunningham, stated ''while our international franchise business experiences good growth, last year was one of the most challenging years in UK retail history.''

Hamleys did not escape the impact of Brexit's uncertainty, general erosion of UK consumer confidence, macroeconomic pressures or a falling consumer footfall due to the threat of terrorism.

It isn't looking good for the retailer...Will a sale be finalised? Is it too late?

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Just a quick note to say a big thank you to all the staff at KSA, our CVA was passed today by creditors voting in an overwhelming number including HMRC to accept the proposal as prepared by KSA.

The road to reach today’s conclusion has been bumpy, but at each stage your team has supported and guided us through the issues and we have reached a very satisfactory outcome to the benefit of customers, staff, all creditors and shareholders.